About the program
Women Entrepreneurship Finance Initiative (We-Fi) is a multi-donor fund currently being administered by the World Bank under the Business Resilience Assistance for Value-Added Enterprises (BRAVE) Women Program designated Islamic Development Bank Group (IsDBG) as one of the Implementing Partners (IPs) to support in the implementation of projects.
The BRAVE Women Program is a 5-year multi-donor fund implemented in Yemen, Nigeria, and Burkina Faso. On 1st April 2020, the Islamic Development Bank Group (IsDBG) signed the Framework Agreement with the Federal Republic of Nigeria (represented by the Federal Ministry of Finance) regarding the support in the implementation of the Business Resilience Assistance for Value-Added Enterprises (BRAVE) Women Nigeria Program. Bank of Industry (Bol) was assigned as the Local Execution Agency.
- Must be located in any of the project states (Lagos and Abuja)
- Women-owned SMEs are those SMEs in which women own 51% or more shareholding in the enterprise.
- For Women-led SMEs, women must own at least 20% of the shares.
- The enterprise must also have at least one woman in top management positions (COO/CEO/President/Vice President) or 30% women membership in the Board of Directors (where the board exists).
- The SMEs must be active in the business sectors of agri-business, education, health, textile/garments, and energy
- Must have between 2 and 100 staff.
- Must not be involved in providing financial services and charging interest (like conventional banks, and insurance companies) or involved in any other business not approved under the Shari’ah (including the manufacturing, selling, or offering of liquors, pork, haram meat, or involvement in gambling, night club activities or pornography.
- Registered enterprises (business name, partnership, or limited liability company) are preferred, but if you are in the process of registering with CAC and have evidence of business operations for the past 12 months, you can still register and submit your application.
Application form for BRAVE Women Grant Program 2023 Portal
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NMFB NIRSAL COVID-19 Loan 2022 – nibloans.nmfb.com.ng-nmfbloanapplicationportal
How to register for BRAVE Women Grant Program 2023
For further information on how to apply and the requirements involves, check out Brave Women website